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, prepare for merger. a deal takes off between u.s. airways and american. what it means for consumers. troubled waters: insights on cruise stocks following carnival's rocky week. plus, does apple have a trick up its sleeve? traders give us their takes on wristwatch rumors. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's friday, february 15th. i'm angela miles. in today's first look: stocks stay stuck. stocks and comodities barely budged yesterday. a cross-current of postive news on jobs and m&a deals in the u.s. offset negative economic data out of europe, which held the market in check. shares of herblife soared 15% after hours on word carl ichan bought 14 million shares of the nutrition company. and tiffany is suing costco. tiffany claims the club chain is selling engagement rings bearing the tiffany name. traders will enjoy a long holiday weekend. with presidents' day coming up on monday, the markets will be closed. mark sebastian of option pit mentoring joins us on this friday for a closer look a
us. international leaders are gathering in bavaria for the annual munich security conference. the german defense minister opened the conference by focusing on the current conflicts in syria and moly -- mali and emphasizing the importance of ongoing cooperation between europe and the united states. them in the united nations has been gridlocked over syria for months, and often, these occasions provide a more informal opportunity for an exchange of ideas. one of the most prominent speakers will be vice president joe biden of the u.s., and he stopped off in berlin on the way to the meeting. >> the u.s. vice-president peter were when visit to the german capital and his first to the german chancellery. he held an equally brief press conference after talks with chancellor merkel, giving high praise for trans-atlantic relations. the two reportedly discussed conflicts in syria and moly -- mali but made no public statements on the matter. his next stop is munich for an annual security conference, a meeting of high-ranking international policy makers, and mali and syria will be at the
. >>> fueled by a weaker yen and strong sales of cameras in the u.s. >>> and shares in virgin media rally after an offer for a takeover that could value the uk cable operator at $20 billion. >> all right. welcome to tuesday. >> it's get together tuesday. coordinated, as well. >> the final print for the eurozone is finally come in, 48.6, a little better than the forecast of 48.2. >> may i just say, though, the employment index, look at that, 46.1, which is just barely better than the flash estimate but still the lowest since december 2009. on a downward trajectory. it's not germany where the final composite was 54.4. it's the periphery still. france's final january pmi falls to 46.1. >> france is where the concern is. we have francois hollande today speaking to the eu parliament. he's going to lay out his vision for the eu against that economic back drop. >> isn't it amazing? we come into the week yesterday with everyone still talking. you have that great barons cover, you come in, just get the risk trade massively off. and the question for today and the rest of the week is frankly whether that'
exercise with the u.s. navy. the drills are being conducted off of south korea's east coast. we have more from seoul. it is an exercise that has been months in the planning. -- >> it is an exercise that has been months in the planning. a third nuclear test could lead the us and south korea to plan for a preemptive strike against the north in the future to prevent a nuclear missile launch. >> the us will have a nuclear submarine around the korean coast. the nuclear power can be deployed to korea. if the us and korea want, they will pre-empt, attack preemptively any time. >> they released footage of the president being briefed by security staff. >> north korea should pay the price for its provocation. we will recommend sanctions with practical effect. >> what was interesting was the wording, an explicit promise to carry out direct actions against north korea as part of the sanctions, a little more than a week after north korea said it would take strong, physical countermeasures against the south if it did so. it is very publicly responding to that challenge. from beijing, north korea's trad
in your home state. that is the way it used to work and we can make it work that way again. there are a number of things we have to do immediately. we may disagree on how to dress them but not the need for them to be addressed. each of you are making different decisions you are grappling with it. i do not think there is much much difference. i'm not mad a governor from the time of implementing the recovery act and on now who does not think we have to do something about our infrastructure. there is very little disagreement on the need too build an education that has such immense possibilities for our people. most of these issues were united by more than what divides us. these all intersect at a place where both the state and federal governments engage. we are going to have to work together. they overlap, in many cases. we will have our differences. we should all agree that the united states has to have the highest percentage of college graduates of any nation in the world. everyone disagrees. some of you governors have led the way an early education and the consequences for
it easy. >>> analysts at a u.s. cyber security firm are accusing the chinese military of spying on american corporations. they say one unit stole information from more than 100 companies. officials in the obama administration have their own concerns. analysts at virginia based firm released a report identifying the people's liberation army. they say members of one unit have attacked more than 140 organizations over the past seven years. they believe the hackers are based in shanghai. state department spokesperson said such attacks are threatening u.s. economic and national security interests. >> we've raised our concern at the highest level about cyber threats from china including the involvement of the military. >> china's defense ministry has dismissed the u.s. allegations as groundless. the state-run news agency quote ad defense ministry spokesperson as saying the military has never been involved in online espionage. he said china is a victim of cyber attacks because the ip addresses are often stolen and misused. many attacks come from the united states but china has never bl
big earnings reports coming in. we're awaiting on hp and aig. the bank that used to be essentially owned by, you, the taxpayers. we'll bring you the numbers as soon as they are released. markets shaken up by the minutes released from the federal reserve yesterday. coming up, we have dick evans, chairman and ceo of cullen frost bankers, member of the advisory banker of the fed, and his bank didn't take a dime of t.a.r.p. money and was able to survive and grow without t.a.r.p. funds. what he says is hurting our economy and what we need to spark more growth. sandra: crocs ceo joining us first on stock business, a pop today, following earnings, find out what the foot ware company is doing to follow up a record setting 20 # 12. david, the shoes still sell like hot cakes. daifd -- david: they came back because of good management. we'll talk about that, but, first, what drove the markets today with the data download. a sea of red on wall street with all three ending lower the second day in a row. s&p in negative territory for the week, on track to snap the longest winning streak in more t
thought was good for us all. i am honored to be here with american enterprise institute and for me it's like coming to the mac and the promised land and certainly we recognize the great contributions that the american enterprise is given over many years in helping us with the development of policy and understanding of what's taking place particularly here in washington d. c., so thanks for the invitation to come here and speak. we are going to talk about health care today and from a utah perspective, my view of the world when it comes to health care. it's a complicated topic and it's certainly an important topic and i know health care has been on the lips of many, the watercooler topic that it may be. i have heard the story of the four country surgeons in utah talking about health care issue and they got into the conversation of who is the easiest person to operate on? and the one doctor says i can tell you the easiest people to operate on a really mathematicians. when asked why mathematicians come to when you open them up and take them apart all of their parts are numbered so it's ve
. the u.s. trade gap narrows as the world buys more made in america products and the u.s. buys less foreign oil. >> susie: and with gas prices rising, chevy hopes its new diesel chevy cruze will attract buyers looking for more miles per gallon. >> tom: that and more tonight on "n.b.r." >> susie: millions of people are bracing tonight for a powerful snow storm that could cripple the east coast. some forecasters say this could be the blizzard of the century with record amounts of snow and extremely strong winds. in parts of the northeast, transportation was shut down. the governors of massachusetts and connecticut declared a state of emergency and banned car travel, train service and cancelled flights in and out of boston. while the worst of the storm has yet to hit, many businesses and cities were busy making preparations today. erika miller reports. >> reporter: this monstrous storm is already being compared to the great blizzard of '78, when vast amounts of snow blanketed the ohio valley and the great lakes. that storm lasted 36 hours, leaving cars stranded. this storm could also b
-free. use promo code: gethelp. if you're not completely satisfied, notify lifelock and you won't pay a cent. order now and also get this shredder to keep your documents out of the wrong hands-- a $29 dollar value, free. get protected now. call the number on your screen or go to lifelock.com to try lifelock protection risk free for a full 60 days. use promo code: gethelp. plus get this document shredder free-- but only if you act right now. call the number on your screen now! liz: good afternoon, everybody, iemg liz caman, stocks up across the board, trading near the best levels of the day. take a look. the dow jones industrials up 47 points, that s&p level now at 1529, up nine points,. nasdaq better by 16. the dow is now just about 1% away from its all-time closing high of 14164.53 back to october 9th of 2007. just before the launch week of fox business. it's been awhile. we'll see whether the bulls can turn it up a notch and make it interesting going into the close. in the meantime, though, while the blue chips get the attention, since the dow 30 has named people recognized, we want to poi
forces on the high seas that created high tension. >>> u.s. transportation investigators say flawed battery design could be behind the problems of the 787 dreamliner as the manufacturer wins approval for test flights. >>> and a new type of bullet train is racing along the rails in japan. the latest has upgrades that enhance safety in the event of an earthquake. >>> i'm gene otani in tokyo. welcome to "newsline". japanese and chinese leaders are locked in a back and forth debate that appears to be going nowhere. china defense ministry issued a statement denying reports that they used fire-control radars in the east china sea. the statement refers to two separate incidents on january 19th. it admits crews on chinese frigate tracked a japanese helicopter because it approached their vessel. in the second case on january 30th the statement says a chinese ship monitored a destroyer that was following it at close range. but the statement denies chinese crews used fire-control radar in either instance pinpoint says officials in tokyo released false reports without confirming the facts with
important meetings of the year. shinzo abe is flying to washington for his first talks with u.s. president barack obama since he took office in december. their agenda is packed and their discussions are expected to touch on everything from a wide-ranging free trade deal to punishing north korea. >> translator: i want the summit talks to show the international community that japan and the united states have restored the strong bond of their alliance. >> abe says that alliance became unstable during the former democratic party-led administration. he says he's going to talk to obama about the u.s.-led negotiations for the transpacific partnership. nations that joined the discussions for the free trade agreement are supposed to in principle eliminate all tariffs, but abe doesn't want to abide by the precondition. abe and obama are expected to share ideas on what to do about north korea. scientists in the country last week carried out their third nuclear test. they are agreed to push for a nuclear resolution imposing new sanctions on pyongyang. >>> government officials say the prime minister wi
, former sec chairman harvey pitt telling us whether our concerns our government to bcould be using the agencies as political weapons. liz: the man who has led his fair share of american turnaround, ed whitaker, chairman and ceo of general motors and ran at&t will be here in the studio. talk about gm where he believes it is going to go. david: the first of the earnings report in just now. green mountain reported, what are the numbers? adam: $0.76 earnings per share, street expecting $0.65 on revenue of 1.34 billion. the street expecting 1.33 billion. they say the single cup brewing system is a breakthrough for the brokerage business with significant untapped potential in the u.s. and globally. he didn't report for how many of those units they sold in the last quarter. lizdavid: there are all kinds of indices which may explain why it is down slightly after hours. let's go to today's market action at the picks of the cme. our market panel in just a second. chief investment officer. but let's go to mark sebastian and put up those after our numbers if we can because we had a beat on gre
. >> and is steady as she goes, the u.s. economy is expected to keep up the recent trend of modesty of unspectacular job growth in january. >>> plus, the dutch finance minister warns of a worsening deficit this year, this after the government is forced to bail out local banks after a bailout of 3.7 million euros. >>> we kick off with the pmis out of the eurozone. january manufacturing pmi, 47.9. the flash 47.5, december manufacturing pmi was 46.1. it has boosted the euro to maintain its gaze, now back over to 1.3651 and continuing to climb high. that is now a 32-month high against the yen, as well, at 11.25965. the german manufacturing pmi was a little better, as well, this morning. helping to boost those numbers. we suggest that there's benefits from emerging markets rather than, perhaps, from elsewhere in europe. anyway, coming in better once again for the eurozone. still in contraction territory, but, of course, the trend is what is being concentrated on. we had similar indicators for two die verging views on china's recovery. eases to 50.4 for january, that was below the forecast of 5079 the. bu
pushing up fuel prices. those higher prices come as gasoline is also on the rise. joining us now with the outlook for energy, alan harry. he's portfolio manager and c.e.o. of the spartan commodity fund. alan, let me first start off by talking to you about home heating oil. we saw prices up this week 3%. what is the trend going forward? >> well, thank you for having me. what i look at right now is short term we're going up a little bit more. longer term we're heading down. two, three weeks we're going to go up just a little bit more. after that, down we go. >> susie: why is that? >> well, i think we're coming to the close of the heating season. we already have an idea of what days we have left of heating. and it's not using up enough. so they've kept a lot in reserve, a lot of speculation coming to the market, and it's not getting used up. two, three weeks we have a great idea of where we will sit heating season wise. after that, down we go displuz for most of the u.s., households use natural gas. they don't use heating oil. and the ones that do are mostly in the northeast. so com
from where it is to where it has never been. >> join us as we explore today's most critical global issues. join us for great decisions. >> great decisions is produced by the foreign policy association, inspiring americans to learn more about the world. sponsorship of great decisions is provided by credit suisse, eni, the hurford foundation, and pricewaterhousecoopers llp. >> coming up next, the intervention calculation. (instrumental music) >> historically the u.s. leaned heavily on strategic interventions to help counter the influence of communism. >> the reagan doctrine was a notion that we would support those that sought to oppose soviet domination. >> during the cold war there was a polarized world - there was the soviet union, there was the united states and a lot of our interventions were used to block the advance of communism, and so very ideological basis for our, our interventions. >> and the u.s. has long retained the power to intervene at will. >> the united states has the capability, military capability, the power, literally the sort of capability to get things done. in
council resolution. >> reporter: the u.s. ambassador to the u.n., susan rice, echoed the strong criticism. >> the actions of north korea are a threat to regional peace and security, international peace and security, and they are not acceptable. they will not be tolerated. and they will be met with north korea's increasing isolation and pressure under united nations sanctions. >> reporter: the security council was quick to condemn the test. it also responded quickly in december when north korea successfully launched a long-range missile. the test could bring north korea closer to developing a nuclear warhead that is small enough to be mounted on a missile. critics point out that the security council members feel that the threat of north korea's program is becoming more rea than ever before. >> so miki, what's next? will the security council adopt tougher sanctions against north korea? >> reporter: well, the u.s., along with south korea, australia, and european members are all for tougher sanctions. these may include tightening the noose on north korea's financial institutions and weapons t
morning with us. i'll see you at the top of the hour. "your bottom line" starts right now. >>> thanks. see you at the top of the hour. we're not in a recession. for many of you, it sure might feel like one. good morning, everyone. i'm christine romans. for a moment there it felt like things were turning around, stock market near all-time highs, housing market recovering and the economy adding jobs every month. now relief may have given way to a little bit of worry. here's why. it's starting to feel like a recession again, especially if you're living paycheck to paycheck, gas prices up nearly 50 cents in the past month. the fastest run-up, you're bringing homeless money, thanks to the expiration of the tax cut. you're getting about 60 bucks less every month. rents are rising, up 12 quarters in a row now. unemployment is still too high. if you were counting on an early tax refupd you have had to wait. because of the fiscal cliff fiasco, the irs did not start issuing refund checks until january 30th. a stretched consumer, a consumer who has no choice but to cut back. big companies you work fo
tomorrow. we like it. >> brian kelly? >> europe is not fixed. can you short it. >> that does it for us, catch fast at five tonight. tomorrow, broadcasting from goldman sachs and internet conference. thank you for talking real estate and markets with us today. follow me on twitter. poufr "power lunch" begins right now. >> the second half of your trading day begins now. >> iphone, ipod and ipad. but how about an iwatch. apple doing what it did to the cell phone. will it indeed be another game-changer? >>> us airways, expected to an announce their highly anticipated mer anticipated merger this week. >>> a down day for stocks but of course we've add big run. is it a pause, pull back or do we rally on? we will ask credit suisse's leader in private banking. >>> indicies are up. 18 stocks are down, led by home depot. but only by a fraction. down 1%. a move in that stock of just 1%, so in essence, sue, we are kind of hanging on in thereafter that big push through january. back to you. >> thank you, very much, simon. 5 lflt b a lot of big news in apple today. more opposition to dell's $24 billi
joins us again this morning. steve, we actually finally start the meetings today. we've had comments out from the russian finance minister, as well. what's he saying? >> well, he's trying to get us back on track on to a growth agenda, which when you look back at what the agenda was a couple of meetings ago back in toronto in 2010, that was sorely missing. that was about harboring deficits and having firm targets. it hasn't really worked, has it? what they've said is our growth estimates were slightly optimistic. listening to what some of the policymakers are saying this time around, the likes of mario draghi, i'm scratching my head a little bit. there's some uncontentious stuff. i can live with that. range of financial market indicators showing situation normalizing. but what about this bit? currency chatter is inappropriate, fruitless and self-defeating. hang on a second, mr. draghi. it wasn't us, the journalists that started this. it was policymakers. it was the g- 7. it's incestble we're going to start rumbling about this. i can't help but thinking mr. draghi is missing the point here
have been under pressure. what we saw with u.s. airways, it was getting hit hard. warren buffett's company, berkshire hathaway, buying time out right here. they called it at 7250. >> yes, they just think it's a great product. he said he was absolutely going to be in for the long term. liz: it's not a classic equity deal where they shine it up. david: we just saw whole foods getting kicked today about 10%. >> that is not good news. david: as you can see, we have very big movements. do not be fooled when we see the dow jones down, the s&p 500 is up a little bit. less than a 10th of a percentage point, nasdaq, the biggest mover is the rest of 2000. it is the individual stocks, we have seen some big movements by individual stocks and we will be talking about coming up. liz: did you see the coal industry sector? lots of natural resources after the fourth-quarter earnings. all gaining more than 4%, 13 full percentage point. david: when you see that it is settling at the lowest level in six months, that is what gives people a lot of concern. it is just about at the 200 day moving averag
. ecklund, i'm scott pelley with 60 minutes. >> oh, great. >> dr. ecklund was surprised to see us. we had hidden our cameras, something we rarely do at 60 minutes, so we could uncover his plan to inject stem cells from a questionable source into this 11-year-old boy with cerebral palsy. how does it work exactly? >> well, stem cells contain... uh... excuse me, here. [ticking] >> in 2009, chrysler was headed towards the junkyard. but in 2011, the company made $183 million and paid back its $6-billion federal bailout, 6 years ahead of schedule. and none of it would have happened without its italian-born, canadian-raised boss, sergio marchionne. >> from 60 minutes. >> oh, yeah. sorry to barge in on you like this. does he walk in all the time? >> occasionally, yeah. [ticking] >> in the beautiful italian province of perugia, men roam the frosty hills with their trained dogs, hunting for the most expensive food in the world. so this is $1,000? just right there is $1,000. but as we found out, anything this rare and expensive can attract a dangerous clientele. >> [speaking french] >> everybody's i
westgate is away but we'll do our best without him. we have michael brown to help us through things. coming up on the program, we'll head out to hong kong where china is requiring a reinstruct during of the economy. >>> after that, of course, the super bowl wasn't just one of the on biggest sporting events of the year, it was one of the biggest days of the year for madison avenue. we'll take a look at which ads were touchdowns and were ads were fumbles. >> mariana rajoy meets angela merkel. >>> plus, upcoming elections that sylvia berlusconi has called his last great electoral and political battle. >>> the power to split up uk banks if they fail to -- activity. george osborne is expected to give the bank of england the responsibility to make sure banks are involved in these activities. you have to love the extended analogy. watch the george osborne speech live here at 10:30 local for those of you here with us in the uk. in the meantime, there are more charges at the top over at barclay's. last night, the bank's financial chief and financial chief announced their leaving. tomorrow, barclay's
>>> they want to snow why another crew locked onto a helicopter. japanese and u.s. officials are urging the chinese to ensure such accidents don't happen again. a chinese navy aimed at a helicopter in mid-january. japa controls the islands. china and taiwan claim them. >> translator: it's extremely regrettable that such a unilateral provocative action has been taken. we will strongly urge the chinese to exercise restraint and not make the situation any worse. >> a spokesperson said she learned about the incident through the media. japanese government officials say the chinese are trying to give the impression they're not behind the incidents. >>> the u.s. defense secretary says it could have had grave consequences. l leon panetta says it could inflame intentions. >> they have to be part of family of nations in that region working gether. >> panetta said the united states, south korea and japan will do everything possible to ensure their territories are secu secure. he called on china to avoid antagonizing other nations. the former secretary of state said u.s. officials oppose
, this was very important for us to stay in positive risk environment. >> hans, we're seeing the response to the upside now. second highs, 1.32. are you sticking by your thoughts that it is still heading towards 1.30? >> we have to make it clear that in the next quarter or two the euro has upside potential and not downside potential. then the longer prospect for the euro is still very swb very negative. why is this euro overshoot taking place? it has a lot to do with the increasing negative correlation with the yen. so the euro is the anti-yen. that implies that when we were seeing the yen coming under selling pressure, japanese investors, where are they currently investing? investors are investing in fixed income. in many cases, very little yields left so that actually means the peripheral of europe sticks out. you need to have some preconditions. the most important, the yen has to stay weak, but secondly we should not run into any politically motivated problem with the euro. that would be a killer for that type of trade. >> and on that note, the european commission today is due to relea
of hacking attacks on u.s. infrastructure according to an american u.s. computer security specialists. australians this -- australian swimming in the dock. lack of strong leadership. also, we take a look at what is happening in business. dell could be going private? >> absolutely. they are going to be talking about their earnings later on, but shareholders at the moment saying that there is a glitch in the system and it does not add up. it is -- >> it is 12:00 noon here, 7:00 a.m. in london, and in south africa different stories have been appearing in court. he broke down crying after hearing the story of the premeditated murder of his girlfriend. the prosecutor told the court that he had got up from bed, put on his prosthetic legs, walked to the bathroom and shot his crow friend through the door. with the latest details, here is naomi. >> oscar pistorius was in court today. the pair lived decathlete sobbed into his hands as he listened to the arguments about whether he should get bail. prosecutors gave more detail of what they say happened last night. they'll age that -- they allege
that are not great. we're hoping that it's past us, hoping that we're over the worst of it, and we're still getting bad data. that's weighing on the crude oil market. i also think last week, it was an overbought territory, 97.5 level. there's a pull back, but if we're below the 94 level, though, that puts in stops that get executed and see much lower levels. that's what i'm concentrating on now is do we break 94. >> kenny, next week, data points you'll be hanging on to? today, we got consumer sentiment of the initial estimate of it, and it actually is better than expected which is why we see apparel names, vf corp. coming up, jumping today. that's the good news. >> right. listen, there's others better than expected, but industrial production was not; right? news is mixed. the last week, honestly, something happens march 1st. what's it going to be? the focus focuses on the global ma crow issues. they will not make sense to anyone anymore at the moment. they'll look to washington, europe, and -- liz: again? >> absolutely. i don't think we're away from it until it actually happens. liz: okay. you know
with anybody to get this job done. none of us will get 100% of what we want. nobody should want these cuts to go through. the last thing our families can afford right now is pain imposed unnecessarily five bipartisan recklessness here in washington. the american people have worked too hard, too long to see the official cause yet another one. it seems like every three months there is some crisis. we have more work to do and to just try to dig ourselves out of these self inflicted wounds. while a plan to reduce our deficit has to be part of our agenda, we also have to remember deficit reduction alone is not an economic plan. we learned in the 1990s, when bill clinton was president, nothing shrinks the deficit faster than a growing economy that creates middle-class jobs. that should be our driving focus. making america a magnet for good jobs. equipping people with the skills to fill those jobs. making sure that their hard work leads to a decent living. those are the things that we should be pushing people to work on every single day. that is what the american people expect. that is what i am
liesman. also at the table with us this morning, our guest host is andy surel. andrew just talked about the markets. stocks ending at session lows yesterday. in fact, all ten s&p sectors closed lower. yet the bulls betting this is nothing more than a bull pac. but we will have a number of powerful investors for their thoughts throughout yao the morning. jim o'neill will join us in just a few minutes. then in the next half hour, the man charged with making sdigs for how blackrock invests more than $1 trillion, the firm's chief investment strategist, russ koesterich. nouriel roubini will be joining us and we're going to ask him for his current view of the world. in the following hour, buy and hold is the name of his game, barons capital ceo ron baron will be our special guess. he's been talking to us about how great of an opportunity stocks have been. we'll see if he's still feeling that optimistic now that stocks have reached 14,000 or close to it. >>> how majority leader eric cantor is set to address a major policy issue today. the goal here is trying to rebrand the gop. moving on, befo
of the pond is the snowstorm. it seems like winds, 50 miles per hour. blizzard conditions in the u.s. we know when there's a storm like that headed for the biggest media market frankly in the world, it's probably all you're going to hear about for a while. >> that doesn't mean there aren't other things, too the. >> that's true, in other parts of the world. >> china is ushering in the year of the snake. i'm not sure what that means, but we'll talk about it. should investors brace for a slippery return? i have to say, previous years of the snakes haven't been that great since the big historical events happen. >> maybe we should call it year of the strong. >>> peugeot reveals massive write-downs as reports suggest the company may nationalize. we'll have details live tr paris at 10:10 cet. sxwt latest on the blizzard threatening to bring chaos to the east coast. we'll have the latest from atlanta. >> and are investments as pretty as a picture or a still life? ross, there's been a couple of big auctions here lately and it's always a good gauge of how well people are doing, how hard assets, real pr
-japanese protests started causing a protest of japanese protests and those who use them. and the protests are so bad that a chinese man made the simple mistake of driving a japanese car in a chai neads city of chian and was beat sewn badly he is paralyzed. this week, a chinese minister accused a japanese vessel of target i targeting the radar on a japanese ship off of the islands, but the chinese officials are disputing it happened. now think about this, the world's second and the third largest economies playing chicken in the pacific over a dispute of uninhabited islands, but if this diplomatic disagreement were to escalate into a military obligation, the united states would be obligated by the 52-year-old treaty obligation to help the sovereignty of japan, and does that mean that north korea would come to the aid of china, but it is a quaint and admittedly alarmist experiment, because that is not how foreign wars are conducted anymore. next month marks the 10-year invasion of iraq, and the last conflict that we can think of conventional war that claimed the lives of more than 4,000 americans and b
is cleared for takeoff. reports say the boards at amr and us airways sign off on their $11 billion deal to create the world's biggest airline. >> announcer: you're watching "worldwide exchange," bringing you business news from around the world. >> all right. you're wearing an appropriate valentine's day shirt. >> i am. i tried. there's a little bit of pink if we look at your tie very closely. if you want to know what's happening in the markets today, hold on, ubs, the valentine's day gdp's massacre. >> yes. >> because if you look at when it's japan shrinking at an annualized rate, germany coming in on quarter on quarter, france coming in -- well, we know they had a recession earlier in the year, as well. minus 0.9% on the quarter been minus 2.7 on the year. >> oh, that's brutal. >> it's the sixth consecutive contraction and that match tess recession of 1992 to 1993. the minus 0.9, it was forecast at minus 0.6 is the slash gdp. >> and italy has been down 2.7% on the year, but this is something in the range of almost a 4% annualized drop until the year from a year earlier. >> the massacre
-off. u.s. markets fell yesterday following the release of the fed minutes. it was the worst day of the year for the s&p and nasdaq. as you can see, shedding 108 points there, a rare triple digit decline this year. energy and material stocks were the worst hit. all ten s&p sectors did hit the day lower. volatility on the rise. the vix rose nearly 20% on this session. the sell-off has continued overnight. the shanghai composite, the australian markets taking it on the chin. will i sixuan joins us from singapore. >> thank you, kelly. fears of an early access by the fed rocks sentiment here in asia today. the nikkei pulls back 1.4% from its 52-month high. investors remain cautious ahead of the decision on the next boj chief. construction equipmentmakers were down after caterpillar reported slowing sales for the quarter ending january. but batterymaker gsyuasa reported a fix over long-term battery problems. the shanghai composite tumbled to 3% today. commodity place were under a lot of pressure today after the u.s. fomc minutes raised the possibility of a qe asset. development and ce
of 87 of 75 against the euro, as well. darren maher joins us. there's been quite a big move already in sterling before this announcement, one wonders actually whether the ratings downgrade, now it's on a stable outlook, is perhaps the end of the weakness in sterling. >> i suspect not, to be honest. we can talk about it being a move and certainly over the last couple of years, there has been a big shift in cable. frankly, this has been a relatively small move. we can't say as of yet it's overshoot. i don't think the market will take great solace that we're now in a stable outlook from moody's because i think everybody recognizes the uk is still fragile and the growth position is more fragile, so i think more down side is possible. >> but what is in the price, darren? >> i think from this point forward is how much slippage do we get. i would say it's more what's in the price and what's in the price for sterling is the market has given the uk a lot of good will that it will be able to mix this wonderful growth of austerity. i think what the market is now doing is reappraising that. tha
in london or certainly in the u.s. they wouldn't mind seeing at this point. >> we've created a million private sector jobs. >> in britain? >> yeah. >> well, congratulations. >> there you go. that is the great conundrum, right? >> it's true. the different between -- well, and even with germany. the liesh market social security holding up, despite the sharp contraction in the fourth quarter. although this will probably add to the sense that the german economy bottomed during that period. >> did i see any -- i haven't seen any, no. i think that's out a little later. plenty to get through on today's program. >> it's good to be back, by the way. >> biggest take away from the mobile world congress? what's the one thing you saw that you thought, oh, that is really cool. >> i go to a conference like this and i think, machine res taking over the world. >> that's the thing we talk about. i don't like those machine peps. >> exactly. so 50 billion connected-m devic. that's a figure thatjs -- some y the point is, it isn't just about you and i talking to each other on a mobile phone. we are well bey
with a little bit of discouragement. those are the issues in front of us. where are earnings going forward into the next few quarters? >> thanks, harry. as always, the market, a crazy day. earnings coming up from hewlett-packard. david faber will have that and bob benmosche talking about his numbers from aig. second hour of the "closing bell" right now. i'll seal you tomorrow. >> have a good one. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody, welcome back to the "closing bell." i'm maria bartiromo on the into of the new york stock exchange. man, a roller coaster ride today on wall street as the major averages close lower for a second day in a row, off of the worst levels of the day. market had been down close to 100 points. we're finishing down 49 points on the dow jones industrial average after hitting the lows about half an hour ago when the market was down 13 point. nasdaq giving up 33 points tonight. technology one of the leadership groups on the downside and the s&p 500 weaker by 9.75. moments away from aig and h-p earnings. david faber is live toni
me at 1-800-743-cnbc. when i used to teach selling stocks at goldman sachs, i told trainees you have to be ready to rebut the objections. expect challenges and meet them with good answers that put to rest the worries, concerns that would keep you from buying the stocks you want them to own. today the market put on a virtual rebuttal clinic and it led to a terrific day where the dow soared 179 points and the nasdaq surged 1.04%, as every important objection was silenced. no wonder we're closing in on those all-time highs. what are the negative presumptions that got rebutted? the u.s. economy must be slowing. right? i mean, on account of all that negative stuff people keep talking about. guess what. today made the notion seem fanciful. we got good macro, meaning we saw durable goods data, showing demand for machinery rose the most in two years. how does that happen? it comes on top of the recent increase in container board, the corrugated box stuff that your packages come in, fedex and stuff. one of the most sensitive economic indicators out there and then a $50 increase in sheet steel
's folks. u.s. post office ending saturday delivery of first class mail. if congress will go for it in but the move has major ram mications for business and for you. markets right now, pretty steady this hour. energy has been the leading sector in this recent rally. so are these still -- these stocks still a hot play or are they too hot to handle now? if you thought profits were the thing that is the only thing that ceos cared about, think again. we will tell what you is keeping top guys and girls up at night. my partner sue is up at the stock exchange. sue? >> hi, ty. money-losing u.s. postal service is ending saturday delivery of first class mail. all in an effort to trim costs. postmaster general speaking to cnbc about the move and ramifications for you and for business. pearson is in washington with the plan and political fall out. hampton, you're up first. >> losing about $36 million a day, cutting saturday first class delivery will save about $2 billion a year. it is really the best short term option right now for the postal service with losing $16 billion last year np
>>> long road ahead. authorities in the u.s. investigate the dreamliner and find its batteries could keep it on the ground for sometime to come. u.s. transportation investigators cast doubt on a quick fix for the problems facing the dreamliner. they say regulators need to rethink their approval of batteries used in the boeing 787. a number of agencies are looking in to a string of safety incidents. deborah hershman chairs. she said a lithium ion battery sparked a fire a month ago on a japan airlines yet in boston. >> this investigation has demonstrated that a short circuit in a single cell can propagate to adjacent cells and result in smoke and fire. >> engineers packaged eight cells together in designing the battery system for the dreamliner. hersman said they did not place them far enough apart so trouble in one of them could affect the others. she said investigators have not determined why the batteries short circuited. another battery fire forced the pilot of a dreamline tore make an emergency last month in western japan. u.s. authorities grounded all 787s. officials at boe
used was one of the best we had ever encountered. >> so mr. al-awlaki is by not an american citizen by where anyone in america would be proud? >> he was part of al qaeda, and it was his determination to kill americans on behalf of al qaeda. >> thank you. is it true that in the last four years the fbi has arrested 100 people, either planning, conspiring, or trying to commit a terrorist attack on this nation? >> yes, they have arrested a lot of people. >> that is because of good, sound intelligence. i think what people forget is that they will kill us if they can and it is extraordinarily difficult if you cannot get into where they were hiding. would it have been possible to have arrested mr. al-awlaki where he was in the yemen? >> we work very closely with yemenis to see if we can arrest individuals. if we can, we want to do that because it is valuable for us. any actions taken in concert with the yemeni government are done in terms of any types of strikes we might engage there with them, are done only because we do not have the ability to bring those individuals into custody. >> tha
will be very difficult. host: why? guest: [inaudible] host: when they use the word lifeline, what does that say to you? >> guest: that is the difficulty. how they get fuel and structure, to the local police. a lot of these local units are in small villages and difficult to get to. they may be in trouble and they -- and maybe because they're out this is the firstrefus indication of problems. caller: i am calling for mississippi. [indiscernible] i do not want them over there. i cannot understand why -- what they need to do there. just think what that were due to our borders for education of our children. it does not seem fair and all that we have to go over there and you soldiers for this purpose. guest: that is the decision that the policymakers will have to make. why we're there or how long we stay, are decisions above my pay grade. i do not avoided but my job is to look that now that we're there, are we spending the money well? the policy decision is for congress and the senior executive branch. host: sounds like our tax dollars will be going to afghans for decades. guest: the tweet raises a g
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